The Federal Government has approved an increase in the statutory allocation of Universal Basic Education matching grants to N3,554,642,584.46 for infrastructural projects. This amount is a significant increase from the previous N1.3 billion per year.
The Executive Secretary of the Universal Basic Education Commission, Dr. Hamid Bobboyi, made this announcement during a 5-day financial training for SUBEB Chairmen and Board Secretaries in Ibadan. He emphasized that the increased grant is in compliance with Section 11 (2) of the UBE Act, 2004, and requires state governments to provide an equivalent amount as counterpart funding.
Dr. Bobboyi urged state governments to access the 2023 Matching Grant and work together to address the challenges in the basic education sub-sector. The meeting was attended by SUBEB Chairmen, Permanent Secretaries, and Executive Secretaries from across the country.
Comments are closed, but trackbacks and pingbacks are open.